NorthMarq Capital’s New York City office arranges acquisition financing of $26.9 million for distribution center in Lithia Springs, Georgia
NEW YORK CITY (July 9, 2018) – Keith Braddish, senior vice president/managing director of NorthMarq Capital’s New York City metro office, arranged acquisition financing of $26.9 million for Lithia Springs Distribution Center, a 617,969 sq. ft. industrial property located at 7705 Staples Drive in Lithia Springs, Georgia. The transaction was structured with a 3-year term with two one-year extensions. NorthMarq arranged financing for the borrower through its relationship with a bridge lender.
“The property is a 100 percent vacant, state-of-the-art, infill distribution/manufacturing facility located in the Terminus West Business Park in Lithia Springs. Latitude Management Real Estate Investors, Inc. executed flawlessly for this repeat borrower. They recognized the intrinsic value of the improvements and the deep tenant pool associated with this infill Atlanta location,” said Braddish.
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
